Reliance Steel & Aluminum Co (RS) Receives $92.00 Consensus PT from Brokerages

Shares of Reliance Steel & Aluminum Co (NYSE:RS) have received a consensus rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $92.00.

Several brokerages have commented on RS. Jefferies Financial Group downgraded shares of Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and lowered their price objective for the company from $105.00 to $100.00 in a research report on Friday, April 26th. Longbow Research downgraded shares of Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 price objective for the company. in a research report on Thursday, April 18th. Finally, Cowen restated an “outperform” rating and set a $95.00 price objective (up from $80.00) on shares of Reliance Steel & Aluminum in a research report on Tuesday, February 26th.

Shares of NYSE RS traded up $0.22 during midday trading on Friday, reaching $89.20. The company’s stock had a trading volume of 7,440 shares, compared to its average volume of 388,694. The company has a current ratio of 4.06, a quick ratio of 1.85 and a debt-to-equity ratio of 0.47. Reliance Steel & Aluminum has a fifty-two week low of $68.62 and a fifty-two week high of $97.41. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.06 and a beta of 1.26.

Reliance Steel & Aluminum (NYSE:RS) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.42. Reliance Steel & Aluminum had a net margin of 5.58% and a return on equity of 13.70%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the business earned $2.30 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Reliance Steel & Aluminum will post 9.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.20 annualized dividend and a yield of 2.47%. Reliance Steel & Aluminum’s dividend payout ratio is currently 24.61%.

In other Reliance Steel & Aluminum news, Director Andrew G. Sharkey III sold 2,000 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $89.05, for a total transaction of $178,100.00. Following the sale, the director now owns 6,893 shares of the company’s stock, valued at $613,821.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David H. Hannah sold 25,000 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $85.51, for a total transaction of $2,137,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,570 shares of company stock valued at $12,757,514. Company insiders own 3.43% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its stake in shares of Reliance Steel & Aluminum by 7,017.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,033,327 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 2,004,757 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Reliance Steel & Aluminum by 982.9% in the fourth quarter. Advisory Services Network LLC now owns 444 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 403 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Reliance Steel & Aluminum by 279.1% in the first quarter. Quadrant Capital Group LLC now owns 436 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 321 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Reliance Steel & Aluminum by 166.0% in the first quarter. Parallel Advisors LLC now owns 532 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 332 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Reliance Steel & Aluminum by 415.9% in the first quarter. Rockefeller Capital Management L.P. now owns 583 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 470 shares during the last quarter. 82.94% of the stock is currently owned by hedge funds and other institutional investors.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

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Analyst Recommendations for Reliance Steel & Aluminum (NYSE:RS)

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